Liberty Interactive Corporation (QVCA) Downgraded to Sell at Zacks Investment Research
Liberty Interactive Corporation (NASDAQ:QVCA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.
According to Zacks, “Over the past three months, Liberty Interactive's share price inched up 7.32% failing to beat the Zacks Retail – Mail Order & Direct industry’s 10.02% gain. Liberty Interactive’s businesses remain susceptible to rapid technological changes. Persistent global economic crisis, foreign currency exchange rate risks and intense competition are other headwinds. Notably, the home shopping and internet retailing market place are getting more competitive day by day. On the flip side, the company’s QVC division continues to benefit from the surge in online sales. The major thrust is expected to come from the growing adoption of high-end smartphones in the U.S. QVC is expanding its presence in developed international markets which will enable QVC to achieve a high rate of growth. Liberty Interactive is also highly optimistic about its operations in China. Recently, the company agreed to acquire rival HSN Inc. for $2.1 billion.”
Several other analysts have also recently issued reports on QVCA. Craig Hallum set a $28.00 target price on shares of Liberty Interactive Corporation and gave the company a “buy” rating in a research report on Monday, July 10th. FBR & Co upped their price target on shares of Liberty Interactive Corporation from $26.00 to $28.00 and gave the company an “outperform” rating in a report on Friday, July 7th. FBN Securities downgraded shares of Liberty Interactive Corporation from an “outperform” rating to a “sector perform” rating in a report on Thursday, July 6th. Aegis upped their price target on shares of Liberty Interactive Corporation from $31.00 to $33.00 and gave the company a “buy” rating in a report on Friday, July 7th. Finally, Maxim Group cut their price target on shares of Liberty Interactive Corporation from $39.00 to $37.00 and set a “buy” rating on the stock in a report on Friday, July 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company. Liberty Interactive Corporation presently has a consensus rating of “Buy” and a consensus price target of $29.27.
Shares of Liberty Interactive Corporation (NASDAQ:QVCA) traded up 0.04% on Tuesday, hitting $23.73. The stock had a trading volume of 2,680,605 shares. Liberty Interactive Corporation has a 12 month low of $17.24 and a 12 month high of $27.06. The stock has a market cap of $10.70 billion, a PE ratio of 23.87 and a beta of 1.22. The company has a 50 day moving average price of $23.95 and a 200-day moving average price of $20.98.
Liberty Interactive Corporation (NASDAQ:QVCA) last announced its earnings results on Tuesday, May 9th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.04. The firm had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.32 billion. Liberty Interactive Corporation had a net margin of 4.59% and a return on equity of 9.98%. On average, equities research analysts anticipate that Liberty Interactive Corporation will post $1.08 earnings per share for the current year.
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A number of institutional investors have recently modified their holdings of QVCA. Vanguard Group Inc. increased its position in shares of Liberty Interactive Corporation by 3.8% in the first quarter. Vanguard Group Inc. now owns 33,386,058 shares of the company’s stock worth $668,390,000 after buying an additional 1,209,952 shares in the last quarter. Dodge & Cox bought a new position in shares of Liberty Interactive Corporation during the fourth quarter worth approximately $399,158,000. Clearbridge Investments LLC increased its position in shares of Liberty Interactive Corporation by 8.5% in the first quarter. Clearbridge Investments LLC now owns 18,010,441 shares of the company’s stock worth $360,569,000 after buying an additional 1,413,144 shares in the last quarter. Artisan Partners Limited Partnership increased its position in shares of Liberty Interactive Corporation by 1.7% in the first quarter. Artisan Partners Limited Partnership now owns 9,852,871 shares of the company’s stock worth $197,254,000 after buying an additional 161,089 shares in the last quarter. Finally, Makaira Partners LLC increased its position in shares of Liberty Interactive Corporation by 19.9% in the first quarter. Makaira Partners LLC now owns 7,127,117 shares of the company’s stock worth $142,685,000 after buying an additional 1,180,808 shares in the last quarter. Institutional investors and hedge funds own 89.45% of the company’s stock.
About Liberty Interactive Corporation
Liberty Interactive Corporation owns interests in subsidiaries and other companies, which are primarily engaged in the video and online commerce industries. Through its subsidiaries and affiliates, the Company operates in North America, Europe and Asia. Its principal businesses and assets include its subsidiaries QVC, Inc (QVC), zulily, llc (zulily) and and Evite, Inc (Evite).
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